Multi-manager funds boost group sales in Q1

Multi-manager funds proved popular among investors in the first quarter of 2011, with groups including Jupiter and Henderson all seeing a rise in sales thanks to their funds of funds, according to the latest Pridham report.

Overall, the report found investors turned more cautious throughout the period and groups such as M&G and BlackRock reported higher redemptions and falls in net retail sales. The report said multi-manager ranges at Jupiter, Santander and Henderson were popular, however, and led to these firms increasing net sales. Merlin Income attracted inflows at Jupiter, while the risk-rated funds recently taken over by Tom Caddick at Santander led to the group appearing in the net sales top 10 after a ‘long absence'. Meanwhile Henderson's multi-manager range and bond funds improved sales. M&G h...